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Environmental information disclosure, green finance, and corporate investment efficiency

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  • Li, Xiao
  • Mo, Furong
  • Li, Xinfang

Abstract

Under the impetus of the "Dual Carbon" goals, enhancing corporate investment efficiency and fostering green low-carbon transition have become critical to achieving high-quality development. Utilizing panel data from China’s A-share listed companies 2013–2023, this study investigates the impact of environmental information disclosure on corporate investment efficiency and its underlying mechanisms. The results indicate that environmental information disclosure significantly improves corporate investment efficiency. Green finance mediates the relationship between environmental information disclosure and corporate investment efficiency. Furthermore, the positive effect of environmental information disclosure on corporate investment efficiency is more pronounced in state-owned enterprises and heavily polluting industries.

Suggested Citation

  • Li, Xiao & Mo, Furong & Li, Xinfang, 2025. "Environmental information disclosure, green finance, and corporate investment efficiency," Finance Research Letters, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:finlet:v:82:y:2025:i:c:s1544612325008530
    DOI: 10.1016/j.frl.2025.107594
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    2. Luo, Dai & Zhang, Long, 2025. "Judicial coordination, cash holdings, and investment efficiency of real estate enterprises," Finance Research Letters, Elsevier, vol. 85(PC).

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